Fossil Energy
Kongsberg signs credit facility with five banks
Kongsberg Gruppen ASA has signed a new NOK 1,500 million ($ 252 million) revolving credit facility with a syndicate of five banks. The facility has a tenor of five years, plus two one-year extension options. The new facility is for general corporate purposes, and replaces the NOK 1,000 million revol
Successful drill stem test in Norwegian Sea for VNG
Faroe Petroleum has announced a successful Drill Stem Test on the 6406/12-3S Pil exploration well (Faroe 25%), drilled 33 kilometres from the Njord production facility (Faroe 7.5%) in the Norwegian Sea. Highlights: – The well flowed at a stable rate of 6,710 bopd of 37° API oil from a 56/64″ choke p
Parkmead increases stake in Athena oil field (UK)
Parkmead has completed the previously announced acquisition of an additional 20 per cent. interest in UK production licence P.1293 (Block 14/18b ALL), containing the Athena oil field, from EWE VERTRIEB GmbH (“EWE”). Through Parkmead’s acquisition of Lochard Energy Group PLC, completed in July 2013,
NFDS Offshore 2 orders AHTS vessel
NFDS Offshore 2 AS has entered into a shipbuilding contract to finalize a large anchor handling tug supply vessel (AHTS) with NorYards Fosen AS. The contract is conditional that the asset transfer agreement between Bergen Group ASA and Calexco S.a.r.l. is finalized as planned. The work will be perfo
DECC: Scottish independence would raise energy bills
Launching the UK Government’s Energy Paper analysing the potential impact of independence on Scotland’s energy, Edward Davey MP, Secretary of State for Energy and Climate Change, made the positive case for the UK’s single energy market, showing how independence would increase people’s energy bills.
Sevan Marine completes Kanfa transaction
Sevan Marine has announced that the previously agreed transaction of 49% of the shareholding in Kanfa to Technip was completed today. Sevan Marine ASA is specializing in design, engineering and project execution of floating units for offshore applications, based on its patented cylindrical floater
Seadrill earns $165 M selling part of SapuraKencana shares
Seadrill Limited has sold 230 million shares of SapuraKencana raising approximately $300 million in proceeds. The total economic gain realized from this sale is approximately $165 million. Following the completion of this transaction Seadrill will continue to own approximately 490 million shares, re
Statoil outsources HR
Statoil has decided to outsource certain tasks within the Human Resources function, and awards two new contracts to external suppliers. The number of full time positions in Statoil in Norway that will be affected is 69, in addition to 10 positions internationally. Around 2/3 of affected employees wi
VisSim supplies Ivar Aasen with Oil Spill Detection solutions
VisSim will supply Marine Radar VTMS and Oil Spill Detection solutions to the Ivar Aasen oil field in the North Sea. VisSim AS has signed an agreement to supply Marine Radar VTMS and Oil Spill Detection solutions to the oil production platform operating the Ivar Aasen oil field in the North Sea. Sit
Wireline Engineering bolsters workforce
Wireline and well intervention technology specialist Wireline Engineering has announced the addition of three key appointments to develop and strengthen its global management team. The company has bolstered its workforce with the addition of Douglas Gordon as division sales manager for Asia Pacific,
Maven Capital Partners increases investment in Scottish oil services companies
Maven Capital Partners has invested £7.5million in RMEC Ltd. in the private equity firm’s seventh transaction in nine months, taking its recent investments in oil services companies that are active in the North-east of Scotland to £30 million. Forfar-based RMEC, a mechanical and hydraulic engineerin
Spectrum to acquire seismic data over 4,600 km in Barents Sea
Spectrum announced today that it has started acquisition of the Phase 2 broadband 2D seismic survey in the Barents Sea Fingerdjupet-Hoop area. A minimum of 4,600 km will be acquired using the vessel Lazarev from SMNG. This is a continuation of the 2,226 km Phase 1 survey acquired last year. Rock pro
ExxonMobil, Rosneft begin huge Arctic survey
The Kara-Winter-2014 Expedition organized by the Arctic Research and Design Center (a joint venture of Rosneft and ExxonMobil) with expert support from the Arctic and Antarctic Research Institute Federal State Budget Institution left the Port of Murmansk on board the Yamal Ice-Breaker. This is going
Xcite Energy, AMEC, Arup working on Bentley platform design
Xcite Energy has entered into a Memorandum of Understanding with AMEC Group Limited and Ove Arup & Partners Limited (“Arup”), which sets out the principles of co-operation for the design and development of Arup’s self-installing, steel ACE platform for the Bentley field in the North Sea. Xcite Energ